For Purposes of Applying the Passive Loss Limitations for Rental

question 53

True/False

For purposes of applying the passive loss limitations for rental real estate,active participation requires a greater time commitment by the taxpayer than does material participation.

---

Definitions:

Cognitive Dissonance

The psychological discomfort experienced when holding contradictory beliefs, values, or attitudes, often leading to an alteration in one of them to reduce the dissonance.

Induce

To bring about or give rise to something, often through a specific action or procedure.

Opposed

To be in disagreement or in conflict with something or someone.

Attitudes

An individual's learned predispositions to respond in a consistently favorable or unfavorable manner with respect to a given object.